Fixed Assets Unit Manager | Saudi Holding Co.

Cairo, Egypt

Leverage your abilities and join the dynamic team of a leading Saudi holding company that owns a group of companies in the retail and perfume sector, expanding their operations to Egypt.

Work Location: Cairo, Egypt. 

Fixed Assets Unit Manager will manage and maintain the company's fixed assets register, ensuring accurate capitalization, depreciation, and timely reporting of all fixed assets. Ensure compliance with company policies and accounting standards.

Key Accountabilities

  • Maintain a register of the company's fixed assets.
  • Adhere to monthly closing schedules for asset additions, depreciation calculations, and period closure.
  • Capitalize all new assets accurately and on time, ensuring the intermediary account balance for asset additions is zero at the end of each month.
  • Analyze the account for projects under construction monthly, ensuring no balances exist for ready-to-use assets that have not been capitalized.
  • Ensure capitalization standards are applied according to the company's accounting policies.
  • Reconcile balances between the subsidiary ledger and the general ledger monthly, verifying their accuracy through detailed analytical reports on asset additions, accumulated depreciation, and depreciation expenses.
  • Ensure all capital expenditure invoices recorded in accounts payable are registered, posted, and capitalized on time each month.
  • Review all asset components in coordination with beneficiary departments or end-users to ensure the application of asset component standards.
  • Participate in classifying budget items for capital and operational expenditures and their related accounting treatments.
  • Address and resolve issues, recommendations, and challenges raised by internal and external audits.
  • Perform additional tasks as needed, such as providing support to other financial departments, inventory, coding of assets, data migration between systems, etc.
  • Update asset movement transactions in the system, ensuring these match actual physical movements.
  • Complete and review the valuation of assets and provisions for asset impairment or disposals.

Knowledge, Skills, and Experience

We Are Looking For:

  • Bachelor's degree in Accounting, Finance, or related field.
  •  More than 10 years of experience in accounting or finance roles, with 5 years of experience in assets management or related field.
  • Extensive experience in managing and maintaining fixed assets.
  • Familiarity with capitalization standards and accounting policies.
  • Experience in monthly financial close processes.
  • Proficiency in reconciling subsidiary and general ledger balances.
  • Ability to manage capital expenditure processes and ensure timely capitalization.
  • Experience with asset valuation and impairment analysis.
  • Strong analytical and problem-solving skills.
  • Excellent communication and interpersonal skills.

Fixed Assets Unit Manager | Saudi Holding Co.

Job description

Fixed Assets Unit Manager | Saudi Holding Co.

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